HBOS shareholders back takeover

This is a sad day for Scotland! Why? Because it is the day that Scotland lost one of its biggest historic icons! Today, HBOS shareholders voted to give the go-ahead for the Lloyds TSB takeover, plummeting HBOS shares down 22%! Lloyds shareholders had already backed the deal in November, and HBOS shareholders had been widely expected to follow suit, despite the vast amounts of people working for the bank and from various Trade Unions being very against the takeover. I congratulate the Merger Action Group (MAG) for making their points clear and, despite not succeeding, they managed to win public support and let people know why the UK government had acted wrongly.

TRIBUNAL LATEST: Action group press release

Hi all, thought I would post a (shorter version) copy of the press release from the Merger Action Group today about the latest of what is happening in the competitions tribunal, so here it is:

Neither the Prime Minister, the Chancellor nor the Business and Enterprise Secretary had the power to waive competition law when they allowed the proposed merger of Lloyds TSB and HBOS to proceed, a court heard today.

For the full press release on the first day of the CAT, please click the link below. http://www.mergeractiongroup.org.uk/updocs/MAG-PR-7-081208.pdf

SAVE THE BANK OF SCOTLAND - SAVE BANK JOBS

Mandelson sends threatening letters to MAG

Hi all. Thought I would just update you all on the latest revelation being revealed today. It's been revealed that Lord Mandelson, or "Bully Boy" as he's now being referred to as, has been criticised after his lawyers apparently sent threatening letters to those in the Merger Action Group (MAG for short). In a statement on today, SNP MSP Alex Neil and Independent MSP Margo MacDonald said the letter had threatened MAG's six key members for legal costs unless they halted their court action. Ms MacDonald added: "I find it breath-taking that a group of responsible people whose only motive in taking this legal action is what best serves the public interest can be subjected to such threats and intimidation by a member of the UK Government." To me, it just looks as though Lord "Bully Boy" Mandelson and his team of cronies at Westminster are scared that the legal challenge might actually work and will now try anything to try and derail it!

SAVE THE BANK OF SCOTLAND - SAVE BANK JOBS!!!

HBOS can and should be saved!

I came home this evening to find out that the merger action group, set up to put forward a legal challenge to the HBOS and Lloyds TSB merger, has successfully passed its first hurdle and will be allowed to present their case to the competitions commission. I really hope this legal challenge succeeds and stops the merger going ahead. Not only would the merger mean the loss of a Scottish institution, but also potentially thousands of jobs! According to the group, they now have just 3 days to save the bank so they need all the support they can possibly get. So please follow this link to support the group: http://www.mergeractiongroup.org.uk/

Remember, Westminster will try to do everything it can to ensure that the takeover goes ahead and I am certain that the dark hand of Lord Mandelson is right behind the deal, as well as Darling and Brown! We cannot let them get away with this! Support the group now and save the Bank of Scotland!